Vaxcyte, Inc. (PCVX) Makes Strides on Pneumonia Treatment, Plots Coverage Extension

Vaxcyte, Inc. (NASDAQ:PCVX) is one of the best biotech stocks to buy, according to Wall Street analysts. On December 8, the company confirmed the dosing of the first patients in its Phase 3 OPUS trial. The company is evaluating VAX-31 in the prevention of invasive pneumococcal disease and pneumonia in adults. It plans to enroll 4,000 participants in consultation with the US Food and Drug Administration.

Topline safety and tolerability results from the trial should serve as the basis for VAX-31 Biologics License Application in the fourth quarter of next year. The company is building on VAX-31 Phase ½ studies that showed both broader serotype coverage and stronger overall immune responses than Prevnar 20 (PCV20).

“On the strength of the unprecedented results from our VAX-31 Phase 1/2 study in adults and our carrier-sparing platform, we are uniquely positioned to set a new standard by which future adult pneumococcal vaccines will be measured. Through this program, we are aiming to expand the breadth of disease and serotype coverage while ensuring immunogenicity levels remain high to ensure durable protection,” said Grant Pickering, Chief Executive Officer and Co-founder of Vaxcyte.

On November 19, analysts at Leerink Partners raised the stock’s price target to $77 from $60 while reiterating an Outperform rating. The positive stance echoes the research firm’s confidence about the company’s optimized VAX-31 pneumococcal conjugate vaccine dose. With GSK and Pfizer disclosing issues with their pneumococcal conjugate vaccine programs, the research firm sees tremendous market potential for VAX-31.

Vaxcyte, Inc. (NASDAQ:PCVX) is a clinical-stage vaccine company focused on developing vaccines to combat serious bacterial infections like pneumococcal disease, Group A Strep, and Shigella. It leverages advanced cell-free technology to create complex proteins for better immune responses, with key candidates like VAX-31 and VAX-24 in advanced clinical trials for infants and adults.

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Disclosure: None. This article is originally published at Insider Monkey.